The Power Elite: Bumbling Incompetents

[Sanguine]

Geniuses in Charge

BALTIMORE, Maryland – Is there any smarter group of homo sapiens on the planet? Or in all of history? We’re talking about Fed economists, of course.


Not only did they avoid another Great Depression by bold absurdity…giving the economy more of the one thing of which it clearly had too much – debt. They also carefully monitored the economy’s progress so as to avoid any backsliding into normalcy.

And where do we get this penetrating appraisal? From the Fed economists themselves, of course. Bloomberg:...

...And thanks to these custodians of the public weal, 99% of the families in the USA now have less wealth than they did before the crisis of ’08 began. But wait – it gets worse. It is now 45 years since the PhDs took control of America’s money. Over those four and a half decades, how much financial progress do you think the average family has made? Approximately zero.

 Actually, if they do much more work, “failure to make any progress” may quickly become the least of our worries…

Yes, the Levy Institute has completed a study. It tells us what we suspected already. Nine out of 10 people in the U.S. have roughly the same real earnings today as they did in the early ’70s.

That makes FOUR LOST DECADES, thanks to the feds, with no advance in the material well-being of the American people (aside from technological marvels) since the new money system came on the scene...

http://davidstockmanscontracorner.com/the-power-elite-bumbling-incompetents/

[sinkspur]

David Stockman.   Like a bad penny he just continues to turn up and talk down the economy.  He's lately become a gold bug, sounding like Ron Paul on the Fed.

As usual, he's selling a book, so make sure you buy it and partake in his wisdom.  Oh, and buy gold.  From him.